Sales of marine fuel in the United Arab Emirates’ Fujairah marine refuelling and oil storage hub dropped 5% in February, official data showed, slumping to their lowest in the last year.

February bunker sales volumes were about 612,000 cubic meters, according to the latest data from the Fujairah Oil Industry Zone (FOIZ), equivalent to about 586,000 tonnes, Reuters calculations showed.

The February sales volume, which is a decline for a fourth consecutive month since a record high in October, is also the lowest on record since the data was made available at the start of 2021.

In January, Fujairah bunkering volumes were at about 646,000 cubic meters.

Combined low-sulphur bunker sales in February plunged 7% from the previous month to 487,000 cubic meters, Reuters calculations showed.

The share of low-sulphur sales to overall bunker volumes were at 80% in February, compared with 81% in January, Reuters calculations showed.

Sales of 380-cst high-sulphur fuel oil (HSFO) rose to about 125,000 cubic meters in February, up 5% from the previous month, while demand for the mainstream 380-cst very low sulphur fuel oil (VLSFO) was 7% lower to a record low of 462,000 cubic meters.

Sales of low-sulphur marine gasoil (LSMGO) fell 14% in February to about 23,000 cubic meters, while marine gasoil (MGO) volumes climbed 15% from the previous month to 1,400 cubic meters.
Source: Reuters